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Silver prices ended the previous day below the $28.55 level, reinforcing the bearish trend expected on an intraday basis. The next major downside target is set at $27.62.
Given the current market conditions, the bearish outlook is anticipated to persist, although some sideways movement may occur until the stochastic indicator shifts from its positive momentum to a negative stance, potentially accelerating the decline. If silver prices rise above $28.55, this would invalidate the bearish scenario and could lead to a recovery.
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Today’s expected trading range for silver is between $27.90 on the support side and $28.65 on the resistance side.
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Trend Forecast: Bearish
